Operations Management involves the planning, organizing, and supervising of production and manufacturing processes. It ensures that an organization operates efficiently, maximizing output while minimizing costs. Key components include resource allocation, quality control, and inventory management, all aimed at meeting customer demands effectively.
In today's competitive landscape, effective Operations Management is crucial for businesses to thrive. It encompasses various strategies and methodologies, such as Lean Manufacturing and Six Sigma, to streamline operations and enhance productivity. By focusing on continuous improvement, organizations can adapt to changing market conditions and improve overall performance.